Hunan Chendian International Development Co., Ltd's performance forecast for the first half of 2024.

Sensex a shareJul 8 12:00 ET · Announcements

Hunan Chendian International Development Co., Ltd (600969.SH) issued a profit forecast, expecting a net income of about 20 million yuan in the first half of the year, turning losses into profits year-on-year.

Chendian International (600969.SH) announced that the company expects to turn losses into profits in the first half of 2024, with a net income of approximately 20 million yuan attributable to the shareholders of the listed company. The net income attributable to the shareholders of the listed company in the first half of 2023 was a loss of 21.0137 million yuan. The main reason for the reversal of performance from loss to profit is that the hydropower sector's power generation has increased. Due to the increase in rainfall in the supply area, the company's power generation in the first half of the year amounted to 0.183 billion kilowatt-hours, an increase of 52.5% compared to the same period last year, and a increase in power generation revenue of 22 million yuan. At the same time, the network's small hydropower generated electricity.

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